Brokers Issue Forecasts for W&T Offshore FY2024 Earnings

W&T Offshore, Inc. (NYSE:WTI) – Analysts at Roth Capital increased their FY2024 earnings per share estimates for shares of W&T Offshore in a note issued to investors on Wednesday, February 12th. Roth Capital analyst J. White now forecasts that the oil and gas company will post earnings of ($0.41) per share for the year, up from their prior forecast of ($0.52). The consensus estimate for W&T Offshore’s current full-year earnings is ($0.50) per share. Roth Capital also issued estimates for W&T Offshore’s Q4 2024 earnings at ($0.14) EPS, Q4 2024 earnings at ($0.14) EPS, FY2024 earnings at ($0.41) EPS, Q1 2025 earnings at ($0.07) EPS, Q1 2025 earnings at ($0.07) EPS, Q2 2025 earnings at ($0.10) EPS, Q2 2025 earnings at ($0.10) EPS, Q3 2025 earnings at ($0.10) EPS, Q3 2025 earnings at ($0.10) EPS, Q4 2025 earnings at ($0.09) EPS and FY2025 earnings at ($0.35) EPS.

Separately, StockNews.com raised W&T Offshore from a “sell” rating to a “hold” rating in a report on Friday, December 13th.

W&T Offshore Stock Up 3.7 %

WTI stock opened at $1.82 on Monday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 75.32. The firm has a market capitalization of $267.45 million, a PE ratio of -4.22 and a beta of 1.32. W&T Offshore has a twelve month low of $1.33 and a twelve month high of $3.16. The stock has a 50-day simple moving average of $1.66 and a two-hundred day simple moving average of $1.97.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company boosted its position in shares of W&T Offshore by 17.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 47,209 shares of the oil and gas company’s stock valued at $101,000 after acquiring an additional 7,142 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of W&T Offshore by 24.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 39,829 shares of the oil and gas company’s stock valued at $67,000 after acquiring an additional 7,776 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of W&T Offshore by 39.9% during the 4th quarter. Wells Fargo & Company MN now owns 46,419 shares of the oil and gas company’s stock valued at $77,000 after acquiring an additional 13,237 shares during the last quarter. Barclays PLC boosted its position in shares of W&T Offshore by 11.0% during the 4th quarter. Barclays PLC now owns 156,226 shares of the oil and gas company’s stock valued at $259,000 after acquiring an additional 15,445 shares during the last quarter. Finally, FMR LLC boosted its position in shares of W&T Offshore by 72.1% during the 3rd quarter. FMR LLC now owns 37,846 shares of the oil and gas company’s stock valued at $81,000 after acquiring an additional 15,852 shares during the last quarter. Hedge funds and other institutional investors own 42.88% of the company’s stock.

About W&T Offshore

W&T Offshore, Inc engages in the production, exploration, development, and acquisition of oil and natural gas properties. It focuses its operations in the Gulf of Mexico. The company was founded by Tracy W. Krohn in 1983 and is headquartered in Houston, TX.